Tag: Nigeria

Krispy Kreme Nigeria gets a boost from US envoy’s visit

Krispy Kreme Nigeria gets a boost from US envoy’s visit

BUSINESS
Krispy Kreme Nigeria received a visit on Thursday from the American Ambassador to Nigeria, Stuart Symington. The envoy extolled the doughnut company for its quality process. During the visit which gave Ambassador Symington a close-up view of Krispy Kreme’s operational processes, he commended the management for the quality of work in the production of doughnuts. “What makes this special is the quality of people in it. The process of making the doughnut is great and awesome,” he said. The American Ambassador said that the brand was brought into Nigeria because of the need to invest in the country, adding that the brand has provided employment opportunities for Nigerians, while creating value through its customer oriented services. Ambassador Stuart Symington at Krispy Kreme Nigeria store Spe

Chi introduces Exotic Pineapple Coconut in 150ml pack

BUSINESS
Chi Exotic Nectar has launched its pineapple Coconut variant in 150ml pack size. According to the company, the taste and refreshment is the same as its bigger pack sizes. The new pack is price friendly at N50 retail. The firm said it is the result of deploying innovation to drive brand growth in a dynamic market environment. It notes that the variant offers an irresistible taste and distinctive refreshment that makes it ideal for indulgence and relaxation. Its taste and trendy pack size connects with the taste preferences and healthy choices of a youthful consumer segment. According to a Brand analyst with Pride Communications, Linus Nwokoji, the fruit juice segment of the market is being driven by competition, retail power and local consumer choices that determines brand and product line ...

Coca-Cola targets Q1 2019 to complete acquisition of Nigerian juice maker Chi Ltd

BUSINESS
Atlanta-based Coca-Cola said on Wednesday it is on track to complete the acquisition of Nigeria’s largest juice maker, Chi Limited by the first quarter of 2019. In a wide ranging interview with Reuters in Lagos, the soda giant reaffirmed its plans to acquire the remaining 60% stake in Chi Ltd it doesn’t already own as it seeks to diversify its product offerings from its core sugary drinks. “We are still on track to complete the acquisition (of Chi Ltd) by the end of the first quarter of 2019,” said Peter Njonjo, president of Coca-Cola’s West Africa business unit. Coca-Cola acquired a 40% stake in Chi in January 2016, and said at the time, it planned to acquire the remaining 60% within three years subject to regulatory approval. Juice sales is part of a broader plan by the soft drinks maker

Malta Guinness named official drink of Durbar festival in Sokoto, Zaria

BUSINESS
Malta Guinness, a malt brand from Guinness Nigeria Plc has been named the official dink of the Durbar festival in Sokoto and Zaria. In a statement, Omotola Bamigbaiye-Elatuyi, Marketing Manager, Malta Guinness and Non-Alcoholic Drinks, said: “Malta Guinness has been recognised as the Official Malt drink for the Durbar festivals in Sokoto and Zaria as a premium non-alcoholic malt brand that has been fueling the greatness of Nigerians with its goodness. “Malta Guinness is packed with energy-giving vitamins B1, B2, B3, B5 and B6, and we are proud to be associated with such a landmark event to refresh guests and attendees,” she said. Activities that marked the Durbar festival included prayers, parade by the Emirs and their entourage, and music by local musicians. The Durbar festivals are about

Appointment: Guinness Nigeria appoints Yemisi Ayeni as a Non-Executive Director

BUSINESS
Guinness Nigeria Plc, has announce the appointment of Mrs Yemisi Ayeni to its Board as a Non-Executive Director effective 1st September, 2018. According to a statement released by the company, Mrs Ayeni will take the place of Prof Joe Irukwu SAN who retired from the Board as a Non-Executive Director on 28th August, 2018. Mrs Ayeni is the immediate past Managing Director of Shell Nigeria Closed Fund Administrator Limited. A position she held for 10 years until her retirement in April 2015. She is a 1985 honors graduate of Accounting and Business Finance from the University of Manchester, UK: 1989 Chartered Accountant and member of the Institute of Chartered Accountant in England and Wales. Ayeni started her professional career with PriceWaterHouse, London in 1985 where she spent five years ...

Life Continental Beer unveils 2018 edition of “Progress Booster”

BUSINESS
Life Continental Lager Beer, a brand from the stable of Nigerian Breweries Plc, has concluded plans to launch the fourth edition of its “Life Progress Booster” promo, an initiative by the brand to promote small and medium scale enterprises (SMEs) in the South Eastern states of Abia, Anambra, Enugu, Ebonyi, Imo, Delta and Rivers, where the brand is the market leader. According to the brand handlers, the scheme is meant to boost the entrepreneurial spirit of Igbo men and women across the South East states of Nigeria as the brand launched the 2018 edition of its famous Life Beer Progress Booster in Enugu. Unveiling the initiative, the Portfolio Manager, mainstream Lager and Stout Brands, Emmanuel Agu said: “Life Progress Booster promotion is a celebration of the essential Igbo spirit of indus

Distell records full year revenue and profit rise despite challenging market conditions

BUSINESS
Distell Group, South Africa’s leading cider, spirits and wine producer reported revenue growth of 10.4% for the full-year ending in June 2018. Revenue grew to R24.2bn rand ($1.9bn) on a 4.6% volume lift. The company reported a strong growth of 10.1% in South Africa, its home market on 4.4% higher volumes amid low GDP growth and higher cost of living putting increased pressure on consumer disposable income. Distell derives 74% of its revenue in South Africa. The company said that its ready-to-drink (RTD) portfolio delivered strong revenue and volume growth, led by Savanna and Bermini cider brands amid increased competition. The spirits category continued to perform well, with brandy volumes still resilient and whisky recovering in the second half. The company notes that gin volume continued

Grand Oak CEO, Odesile, to step down

BUSINESS
Aare Fatai Odesile, the CEO of Grand Oak Limited is to step down from his post effective end of September. His resignation comes after 27 years of meritorious service at the Nigerian Distilleries Limited (NDL) and Grand Oak Limited (GOL), two indigenous spirits firms owned by the Lexcel Group of Companies. Odesile started his career with the Lexcel Group as a Quality Control/Production Officer with NDL in 1992 and rose through the ranks to the position of Managing Director/CEO of Grand Oak Limited, the marketing arm of Nigerian Distilleries Limited in 2016. Remarking on his time at the company, Odesile said, “I have enjoyed every bit of my stay in both NDL and GOL having risen to become the first entry level graduate to become the managing director of the company. “I remain eternally grate

NB seeks to expand leadership in premium lager, scale-up mainstream and drive malt growth

BUSINESS
Nigerian Breweries Plc (“NB Plc”), the country’s largest brewer by volume and sales has set a goal to expand its leadership in premium lager, build scale in mainstream segment (formerly value segment) and drive malt growth as it counters stiff competition from rivals – International Breweries Plc, a subsidiary of AB InBev and Guinness Nigeria Plc. The company laid out its strategy during its annual ‘Financial Market Forum’ held at the company’s headquarters in Iganmu, Lagos. The company’s Managing Director/CEO, Jordi Borrut Bel and Finance Director, Rob Kleinjan held a briefing of the company’s business with analysts and took them on a tour of an open market to demonstrate how the company wants to build stronger partnerships with retailers and distributors. Macro Economy Overview The firm
Wild Africa Cream Liqueur unveiled in Nigeria

Wild Africa Cream Liqueur unveiled in Nigeria

BUSINESS
South African wines, spirits and liqueur producer, KWV has announced the launch of Wild Africa Cream Liqueur into the Nigerian wine market. The introduction took place at an event held at the Radisson Blu Hotel, Ikeja, Lagos on Friday, 7th September 2018. Speaking at the event, the Brand Manager RTDs Liqueurs, KWV SA, Barry Badenhorst, said the entrance of Wild Africa is to celebrate Nigeria and to satisfy the yearnings of the consumers who want the products. “Wild Africa has been around for few years and its available basically in every continent and because Africa is in our name, it’s time to move our African countries better so we decided to bring it to Nigeria and from here, Wild Africa will become household name that most people know because we believe as they taste the brand, there i